GAIL to swap U.S. LNG cargoes for delivery in 2022
State-run gas company GAIL (India) is reportedly looking to swap a number LNG cargoes set for loading in the United States.
Citing industry sources, Reuters reports the company has issued a swap tender for the U.S. cargoes and is seeking cargoes for delivery into India in 2022.
According to the sources, GAIL is offering one cargo per month through 2022.
The tender is set to close on July 27.
Cargoes are set to load at Cheniere’s Sabine Pass LNG export facility in Louisiana on a free-on-board (FOB) basis. However, GAIL is looking to have the cargoes delivered into India on an delivered ex-ship (DES) basis.
GAIL has a 20-year LNG supply deal in place with Cheniere. The deal was signed in 2011 and commenced in March of 2018.
Under the terms of the SPA, Cheniere is selling and making available for delivery to GAIL approximately 3.5 million tonnes of LNG per year.